US penalizes shipping firms said to help North Korea circumvent UN sanctions

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The US Treasury on Friday announced penalties against Taiwanese and Hong Kong shipping firms it says are helping North Korea circumvent United Nations sanctions.

The companies are helping North Korea with “illicit ship-to-ship (STS) transfers to circumvent United Nations (UN) sanctions that restrict the import of petroleum products,” Treasury said.

Treasury’s Office of Foreign Assets Control blocked the assets of two individuals and those of Taiwan-based Jui Pang Shipping Co Ltd (Jui Pang) and Jui Zong Ship Management Co Ltd (Jui Zong), as well as the Hong Kong-based Jui Cheng Shipping Company Limited (Jui Cheng).

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